NETHERLAND COMPANY
Samvardhana Motherson raises $350 million via bonds
The bonds were sold by a subsidiary, SMRC Automotive Holdings Netherlands, and are priced at 140 basis points above the five-year US treasury, currently trading at about 4.30%. After taking into account the costs, the bond was priced at a yield of 5.72%.
Everstone to merge two healthcare companies, list combined firm
Everstone Capital, a Pan Asia private equity fund, is merging Translumina Therapeutics, a major cardiac stent maker in India, as part of a big-ticket IPO plan.
Stock picks of the week: 5 stocks with consistent score improvement and upside potential of up to 43%
While the indices might be witnessing correction on intra intra-basis, the broader markets are still very much under the control of the bulls. There is greater likelihood of bullish sentiment continuing, so be bullish but more than anything else in the long term what matters for a stock is earnings and valuation. So be selective, avoid impulsive investing, and keep reviewing one’s portfolio and stay away from penny stocks especially. It is very likely that some of the penny stocks will fly and be distributed amongst retail investors. We look at stocks which have witnessed a continuous rise in their score in the last one month. These selected stocks depict a strong upward trajectory in their overall average score which is based on five key pillars i.e. earnings, fundamentals, relative valuation, risk and price momentum. This implies that there has been a significant improvement in their market outlook in the given time frame.
Japan sanctions Bengaluru tech company over Russian war 'support'
Japan has sanctioned Bengaluru-based Si2 Microsystems Pvt Ltd, an Indian tech firm, for allegedly supporting Russia's war efforts. This move, part of broader sanctions including firms from China, the UAE, and Central Asia, marks Japan's first targeting of foreign companies over Ukraine-related issues. The sanctions may strain the growing strategic partnership between Japan and India. Si2 Microsystems, involved in various high-tech projects, including government space initiatives, is now under scrutiny. Japan's tougher stance against Russia, influenced by Western pressures, contrasts with its previous policies, recalling sanctions imposed on India after the 1998 nuclear tests.
Tata Steel says in talks with Dutch govt on proposed decarbonisation roadmap
Tata Steel is negotiating with the Dutch government on a decarbonisation roadmap for its IJmuiden factory, following reports of potential €3 billion support for the plant's green transformation. The Dutch Parliament mandated these negotiations in March, aiming for CO2-neutral steel production by 2050. Final terms require approval from both the Dutch Parliament and Tata Steel's Board.
Dutch may pay as much as €3 billion to clean up Tata Steel plant
The Netherlands is considering contributing up to €3 billion for the eco-friendly renovation of Tata Steel Ltd.'s IJmuiden factory, addressing severe health and environmental issues. The Dutch parliament approved subsidies for the renovation. Tata Steel, a major employer, has faced criticism for emissions linked to health problems. Discussions with Tata Steel are ongoing, with the subsidy amount yet to be confirmed.
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Netherlands emerges as India's 3rd largest export destination in 2023-24
India's trade surplus with the Netherlands has increased to USD 17.4 billion in the last fiscal from USD 13 billion in 2022-23.
Tata Steel net falls 65% to ₹555 cr on lower India prices
The firm's consolidated revenue during the quarter fell around 7% on year to ₹58,678 crore, while its earnings before interest, tax, depreciation and amortisation (Ebitda) declined more than 8% at ₹6,631 crore. Operations in India, which are the company's mainstay and account for almost 70% of the volumes, saw a marginal decline in sales and operating profit for the quarter.
Not engaged in any discussions: Paytm issues clarification on report claiming Adani in talks to acquire stake in company
One97 Communications responds to speculation of Adani Group chairman Gautam Adani considering acquiring a stake in Paytm's parent company. The company clarifies that no discussions are ongoing, emphasizing compliance with SEBI regulations.
Climate tech startup Cloover raises $114 million in seed funding
German startup Cloover secured $114 million funding led by Lowercarbon Capital to empower smaller installers in offering comprehensive renewable energy solutions. The funding will support expansion into new markets and technology enhancements.
Airtel Africa’s Dutch hold-company completes $550 million bond repayment
During Airtel Africa’s IPO back in June 2019, the (Airtel Africa) Group had $2,719 million of external debt at the HoldCo level, which had resulted in significant exposure to currency fluctuations and the reliance on upstreaming funds to cover both interest costs and the principal repayment.
India showcases its green hydrogen potential at World Hydrogen Summit 2024 in Netherlands
India at World Hydrogen Summit 2024 presents progress on green hydrogen. Pavilion by Ministry of New and Renewable Energy highlights COP26 commitments. Aims for 45% emissions intensity reduction by 2030, striving for net-zero emissions by 2070.
A play on restructuring and higher growth: These auto stocks can deliver more than 18% return
In the last four days of strong volatile moves, one sector which has been able to keep its head above the water is the Auto sector. Is it because of results which are expected to be good or it is rotational trade which is taking place, is the question. Whatever might be the reason, after remaining under pressure for one or the other reason, the auto sector has been witnessing a transformation, right from restructuring to a slew of launches, coming from companies. There is a high probability that this trend of restructuring is likely to continue. Check out Stock Reports Plus, powered by Refinitiv, for price targets of over 4,000 listed stocks along with detailed company analysis focusing on five key components - earnings, fundamentals, relative valuation, risk and price momentum to generate standardized scores. SR+ Reports is a complimentary offering to ETPrime members.
Tata Steel India sales rises 6% to 20 mn tonnes in FY24; production up 4%
Tata Steel India reported a 6% growth in deliveries to 19.90 million tonnes in FY24, driven by increased demand from retail, automotive, and railway segments. The company produced 18.85 million tonnes of steel in India during the preceding financial year. Automotive and special products segment deliveries increased by 8% to 2.9 million tonnes, surpassing the previous record.
Tata Steel posts record annual crude steel output in 2023/24
Tata Steel India recorded its highest annual crude steel production at 20.8 million metric tons in 2023/24, up 4% on year, according to provisional data released by the company.
Targeting Chinese chips, US to push Dutch on ASML service contracts
Washington may also be seeking to add to a list of Chinese chipmaking factories restricted from receiving Dutch equipment as part of the discussions, one of the people said. The Dutch Foreign Ministry confirmed the upcoming meeting but did not elaborate on which topics would be on the agenda.
ASML, computer chip firms testify to parliament on tax, policy needs
The appeal comes as ASML weighs what share of its future operations will be based in the Netherlands, and one week after the Dutch government presented a plan to spend 2.5 billion euros ($2.7 billion) on improving infrastructure in the Eindhoven region to keep ASML from leaving.
Bharat Biotech, Bilthoven Biologicals collaborate for oral polio vaccines production, supply
Bharat Biotech on Tuesday said it has collaborated with the Netherlands-based Bilthoven Biologicals B.V, a wholly-owned arm of Serum Institute of India, to strengthen production and supply security of oral polio vaccines. An agreement has been signed between the two partners under which Bharat Biotech will procure drug substances for the production of oral polio vaccines (OPVs) to be supplied within India and globally, the company said in a statement.
SC dismisses MakeMyTrip appeal against Google over trademark
The Supreme Court dismissed MakeMyTrip India's plea to restrain Google from using its trademark. Chief Justice DY Chandrachud stated that there was no likelihood of confusion as MakeMyTrip users visit its website and the services offered by MakeMyTrip and Booking Netherlands/India are distinct.
Semiconductors a bright spot in Dutch startup landscape: report
Venture capital funding for Dutch chip startups grew for the fifth consecutive year in 2023, reaching 216 million euros ($234 million), the report by Techleap said, helped by increasing recognition of chip equipment maker ASML as Europe's largest tech firm.
Dutch government scrambling to keep chipmaker ASML in Netherlands: report
A report in newspaper De Telegraaf said the ministries involved had dubbed the effort "Operation Beethoven," citing unnamed sources. A spokeswoman for the Economic Affairs Ministry said it could not discuss policies toward specific companies.
NITI Aayog bats for incentives for LNG-fuelled commercial vehicles
NITI Aayog has proposed fiscal and non-fiscal incentives along with VAT reduction and accelerated depreciation to encourage the use of LNG-fueled vehicles. They have also suggested setting up a demand aggregator for buying LNG trucks. The aim is to lower carbon dioxide emissions and increase the share of natural gas in the energy mix. Furthermore, they recommend including LNG vehicles in the production linked incentive scheme and providing non-fiscal incentives such as priority lane access and extended vehicle life.
Beijing criticises Netherlands' move to block ASML exports to China
Asked about the Dutch government's move, Chinese foreign ministry spokesman Wang Wenbin on Tuesday urged the Netherlands "to be impartial, respect market principles and the law, take practical actions to protect the common interests of both countries and their companies and maintain the stability of international supply chains".
Netherlands blocks chipmaker ASML's exports to China in partial licence revocation
The company said it does not expect the revocation or the latest US export control restrictions to have a material impact on its financial outlook for 2023.
EKA Mobility partners with Japan's Mitsui and Netherlands' VDL Groep to manufacture EVs
EKA Mobility, which commissioned a production unit in Pune earlier this year, plans to scale up production capacity to roll out 5000 electric buses and 6000 light commercial vehicles per annum in the first phase. This would be further increased to produce 12,000 electric buses and commercial vehicles each in the medium term, as per market demand.
Mahyco Group Company Fowler Westrup India acquires Netherland-based Seed Processing Holland (SPH)
Fowler Westrup India delivers solutions to the agriculture industry in the field of cleaning, grading, storing, milling, sorting & material handling for processing of seed, grains, pulses, spices, millets & other food commodities for over two decades. Fowler Westrup India has also acquired Premium Seed Machines (PSM) in Medemblik in the beginning of this year through its wholly owned subsidiary Fowler Westrup (Netherlands) B.V.
South Korean president Yoon Suk Yeol heads to Netherlands to boost semiconductor cooperation
In an exclusive interview with AFP, Yeol said High-tech chips are the lifeblood of the modern global economy, used in everything from weapons to cars, and South Korea accounts for about 60% of the world's supply of memory chips.
Tata Steel to scrap 800 jobs in the Netherlands
Tata Steel, the Indian-owned steelmaking giant, has revealed plans to eliminate 800 jobs at its plant in the Netherlands, located in IJmuiden near Amsterdam. The decision, announced on Monday, is aimed at enhancing market conditions and reducing costs for the under-pressure plant.
Tata Steel seeks financial aid for Netherlands unit; to submit decarbonization proposal to Dutch govt soon
Tata Steel, having secured funding in the UK, is now seeking financial assistance from the Dutch government for its decarbonization efforts. Tata Steel Netherlands will soon submit a detailed decarbonization proposal, and both parties will discuss project conditions for approval. The company aims to produce carbon-neutral steel in Europe by 2050.
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